Mutual of America Capital Management LLC Purchases New Position in WK Kellogg Co (NYSE:KLG)

Mutual of America Capital Management LLC acquired a new position in WK Kellogg Co (NYSE:KLG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,541 shares of the company’s stock, valued at approximately $152,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lincoln Capital Corp acquired a new position in shares of WK Kellogg during the 4th quarter worth $1,026,000. Nordea Investment Management AB bought a new position in WK Kellogg during the fourth quarter valued at about $2,119,000. Inlet Private Wealth LLC acquired a new stake in shares of WK Kellogg in the fourth quarter worth about $4,038,000. Oak Thistle LLC acquired a new stake in shares of WK Kellogg in the fourth quarter worth about $1,721,000. Finally, Salem Investment Counselors Inc. bought a new stake in shares of WK Kellogg during the 4th quarter worth about $2,319,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Price Performance

KLG opened at $23.80 on Wednesday. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $23.82. The business has a 50 day moving average of $17.62 and a 200-day moving average of $13.94. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The firm had revenue of $651.00 million for the quarter, compared to analyst estimates of $645.87 million. WK Kellogg’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts expect that WK Kellogg Co will post 1.51 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, February 29th.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KLG shares. Stifel Nicolaus boosted their target price on WK Kellogg from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Barclays boosted their price objective on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, WK Kellogg currently has an average rating of “Hold” and a consensus price target of $12.75.

WK Kellogg Company Profile

WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It manufactures, markets, and distributes ready-to-eat cereal products primarily under the Frosted Flakes, Special K, Froot Loops, Raisin Bran, Frosted Mini-Wheats, and Kashi brands. The company was formerly known as North America Cereal Co and changed its name to WK Kellogg Co in March 2023.